Tag: Expensive

Competition and the current U.S. economic situation are forcing Disney Parks to expand and raise prices. In 2018 Disney World raised its prices twice and switched to a dynamic pricing model. The new model prices out its early adopters in the middle class from peak park months.

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You might not remember it, but at one point Hooters had an airline. Hooters Air launched in 2003, but closed about three years later. The company cited a number of reasons for the airline’s failure, including a million loss. But in the short time that Hooters Air existed, it made a major economic impact on one city in particular — Myrtle Beach, South Carolina — that’s where the airline was headquartered, and where it brought thousands of tourists every week.

We talked to people who worked for Hooters Air — flight attendants and one pilot (who asked to remain anonymous). They told us what it was really like to work for the airline (which featured two Hooters Girls on every flight) and dispelled some common misperceptions about what it was like to fly it. Hooters declined to comment for this story.

Business Insider is the fastest growing business news site in the US. Our mission: to tell you all you need to know about the big world around you. The BI Video team focuses on technology, strategy and science with an emphasis on unique storytelling and data that appeals to the next generation of leaders – the digital generation.Video Rating: / 5

Mānuka honey known for being is earthier, richer, and more viscous than many other honeys. It comes from the nectar of the flower of Leptospermum scoparium — also known as Manuka, which is only native to New Zealand. Mānuka, in fact, is a Maori word.

“The plant itself is very rare. It’s difficult to harvest because the flower is only open for 12 days, and sometimes we have to use helicopters to collect this honey.” John Rawcliffe from the Mānuka Factor Honey Association told Business Insider.

Although mānuka bushes can also be found in Australia, New Zealand accounts for almost all the world’s production, with exports worth 300 million NZ dollars (4m) and expected to rise to 1.2 billion NZ (0m) by 2028.

Watch the video to find out what’s so special about it and why it costs so much.

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Electric Production Car Series is an upcoming racing championship featuring the world’s first Tesla race car. The car used for the series is a Model S P100D that has been optimized for competing. Electric GT, the series’ owner, continues working and planning for the championship’s inaugural season.

For more, visit:
http://www.electricgt.co/

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Average spending on pets is increasing, as premium pet food brands are becoming more prevalent. But are these premium brands worth their price?

Pet owner total spending increased from .2 billion in 2007 to .5 billion in 2017. Millennials became the largest demographic of pet owners in 2017 at 35%. In 2017, 4,500 new pet food products were introduced, many of which were la bled premium products.

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Single Malt whisky is one of the most revered spirits in the world. It is exclusively made from barley, which is quite a cheap product. A bottle of The Macallan 1926 60-year-old recently sold for ,512,000 in auction, marking the largest single sale ever for a bottle. Over the past 50 years, single malts have become increasingly popular. Scottish single malt exports grew by 14.2% in 2017 to reach nearly .5 billion.

Glenfiddich distillery in Scotland is the world’s largest exporter of single malt. Started in Dufftown in 1886, it ships 1.2 million 9-liter cases each year.

Making single malt is a difficult and lengthy process. Barley is ground down and added to spring water. Heated to 64°C, it turns to sugar, dissolving into a fine sweet, tangy liquid called wort. The wort is drained, cooled, and passed into wash-backs. This is heated and condensed in copper wash stills for its first distillation, and a second time in spirit stills. This spirit trickles into the spirit safe, ready for maturation, and then is batched in casks with spring water. Casks spend years in the warehouse, maturing into a single malt.

An aged 30-year maturation can have 30% to 40% of the alcohol evaporated in the barrel, or over 1% each year of the whisky’s life. This is because of “Angel’s Share” — the natural evaporation of the liquid into the atmosphere over time. So older whiskies are expensive not because they’re old, but because they are rare.

Fashion, and the collector’s market, also have something to do with the rise in popularity. Christie’s Director of Wine Tim Tiptree oversaw the sale in 2018 of The Macallan 1926 60-Year-Old, which sold for ,512,000 to a private buyer. According to Tim, the collector’s market will continue to grow.

India, China, and Japan, are now main players in the single malt market. Particularly successful is the Yamazaki distillery in Osaka prefecture. Rare whiskies from their collection of single malts now sell for thousands of dollars.

We tried a 12 year-old single malt worth , and the 50 year-old bottle worth ,000.

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Christian Louboutin’s trademark red-bottomed shoes have become iconic. Beyoncé wore a custom pair of boots for her Coachella performance, and Cardi B slipped on a pair of “bloody shoes” for her “Bodak Yellow” music video. But why do these heels cost hundreds, and sometimes thousands, of dollars?

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Following is a transcript of the video:

Narrator: What makes these shoes worth almost 0? Christian Louboutin is the mastermind behind these iconic red-bottomed shoes. It’s safe to say his footwear has stepped into the mainstream. Celebrities all over the world wear them.

“You know the ones with the high heels and the red bottoms?”

♪ These expensive, these is red bottoms ♪ ♪ These is bloody shoes ♪

Narrator: Louboutin even had the red bottoms trademarked. The signature Louboutin pumps, start at 5. The most expensive pair, nearly ,000. So how did this craze start? Christian Louboutin had the idea for red soles in 1993. An employee was painting her nails red. Louboutin snagged the bottle and painted the soles of a prototype shoe. Just like that, the red soles were born.

So, what makes these shoes worth the cost? In 2013, when the New York Times asked Louboutin, why his shoes are so expensive, he blamed production costs. Louboutin said, “It’s expensive to make shoes in Europe.” From 2008 to 2013, he said his company’s production costs had doubled as the euro strengthened against the dollar, and competition increased for quality materials from factories in Asia.

David Mesquita, the co-owner of Leather Spa, says craftsmanship also plays a part in the shoes’ high price tag. His company works directly with Louboutin to repair its shoes, repainting and replacing the red soles.

David Mesquita: I mean there’s a lot of things that go into the design of a shoe, and the making of a shoe. Most importantly, I think is, who’s designing it, who’s manufacturing it, and also what materials they’re using to make the shoes.

Whether you’re talking about feathers, rhinestones, or exotic materials, there’s so much attention to detail that they put into their manufacturing and designing of their shoes. Narrator: For instance, these ,595 Louboutins are embellished with Swarovski Crystals. And these raccoon fur boots cost ,995. When it all comes down to it, people are paying for the status symbol.

Producer Spencer Alben bought a pair of Louboutins for her wedding.

Spencer Alben: It makes me sound so stuck up, but I love the red soles because it’s such like a fashion icon symbol. There’s something about them that when you see them in a picture, you instantly know what those are. So it’s like a status symbol I guess, which makes me sound terrible.

They were over ,000, which when I say that now, is insane for one pair of shoes that you’re probably never gonna wear again. It’s like something that everyone knows, so the second you see the red bottoms, it’s like, I know what those are, I know what those cost. And it’s so superficial that we care about that, but it really is something that is universal. You see that and you instantly know what those are, and it’s something special. So I think, something as silly as the color of the sole on the shoe, makes them so special, because it’s universally identifiable.

At per pound, macadamia nuts are the world’s most expensive nuts.The nuts keep breaking price records every year. Macadamia trees take 7 to 10 years to begin producing nuts, and the nuts can only be harvested a few times a year. Although the demand for the nuts has largely outpaced the supply, exporters worry that a bubble in the global macadamia industry is about to burst.

Following is a transcript of the video:

Macadamia nuts are the most expensive nuts in the world. A one pound bag can cost around , almost twice as much as other nuts like almonds, and they’ve been breaking price records year after year.

Considered a high-quality dessert nut because of its rich, buttery flavor, macadamia nuts are a popular treat and a trendy import in countries like China and the United States.

But why are macadamia nuts so expensive?

The main reason is the slow harvesting process. While there are ten species of macadamia trees, only 2 produce the pricey nuts and it takes seven to 10 years for the trees to even begin producing nuts.The flowering trees originated in northeastern Australia and the nuts were eaten by the Australian aboriginal people. They called the trees “Kindal Kindal,” but British colonists eventually renamed them macadamia, after Dr. John Macadam. Despite originating in Australia, macadamia trees were first commercially grown in Hawaii.

Hawaii has the perfect climate for the trees– they need lots of rain, rich soil, and warm weather to thrive, which means regions that don’t meet those requirements have to import macadamia nuts all the way from Hawaii, South Africa, Latin America, or Australia. And because it takes the trees anywhere from four to six months to flower, the nuts all mature at different times of the year.

They’re only harvested five to six times a year, typically by hand. Their thick shell, often removed before sale, makes it difficult to tell the ripe nuts from the unripe ones, making the harvesting process more work-intensive and costly. Macadamias have become increasingly popular because of their high fat content. With 20.9 grams of fat per pound, they contain more fat than any other nuts, which is why people used to think macadamia nuts were unhealthy. In reality, a majority of that fat is 100% cholesterol free and contains palmitoleic acid, which can improve your metabolism and help your body maintain healthy levels of insulin.

Each nut is made up of 80% oil and 4% sugar. The high fat and low sugar content makes macadamia nuts ideal for many healthy eating and weight loss programs, including the Keto diet which cuts carbs while emphasizing good fats.

Last year, the price of macadamias broke records again.

In Hawaii, nut-in-shell macadamias started the season with their highest net farm value ever at 100 cents per pound, and ended the season with a new record high of 110 cents per pound. The farm value on Hawaii’s macadamia crops is estimated to be worth .9 million.

Meanwhile, countries like China who import them on a massive scale, are now working on growing their own harvests because of how valuable the nuts are. However, for the time being, the demand for macadamia nuts outpaces the supply, which drives up prices.

But the global macadamia supply is expected to increase, thanks to countries like China planting macadamia trees. Now, China is set to produce HALF of the global macadamia crop by 2022.

Exporters worry that a bubble in the global macadamia industry is about to burst.If that happens, macadamia nuts may no longer be the most expensive nuts in the world.

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“Chocolate diamonds” are brown diamonds that are not too dark and not too light in color. Brown diamonds were not popular in jewelry until the 2000s. “Chocolate diamonds” was trademarked by Le Vian in 2000 and are now popular in jewelry worn by celebrities, like Rihanna and JLo, and non-celebrities.

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Amtrak has been operating since 1971. With high ticket costs, Amtrak has become a less viable mode of transportation. It has had a long history of financial instability since its formation.

Following is a transcript of the video:

Narrator: Amtrak is the only passenger railroad service that operates throughout the continental US. With about 500 destinations, the service has been operating since 1971. But with high ticket costs, Amtrak is becoming a less viable mode of transportation. In fact, it’s often more expensive to take an Amtrak train from New York City to Boston than to fly. Why does the US, a country that created billionaire railroad tycoons, have such an expensive and inefficient train system?

Amtrak has had a long history of financial instability since its formation. Passenger trains used to be owned by private companies that operated freight trains. At the start of the 20th century, nearly 42 million passengers traveled by rail as their primary mode of transportation. However, by the 1940s, railroads began to become less popular as buses, planes, and cars grew in popularity. And by the 1960s, many railways, such as Penn Central and Atchison, Topeka & Santa Fe Railway, all discontinued most of their trains.

Passenger trains were no longer profitable, especially when the US Post Office began shipping mail by truck and air. In an attempt to rescue the service, then-president Nixon signed a law in 1970 that ensured government funding. This act created the National Railroad Passenger Corporation, which eventually became Amtrak. Of the 26 railroads offering passenger service, six declined to join Amtrak.

Although the railroad service continued, its problems with ridership and financial instability remained. Amtrak competed with other railway companies for train stations and tracks. On its first day of service, passenger trains had to be rerouted from seven train terminals in Chicago into just one. Amtrak also had to pay and maintain multiple train stations in one city due to the lack of track connections.

Throughout the early 2000s, the US government attempted to make Amtrak financially self-sufficient by trying to increase ridership and implement the Acela Express, which runs at a maximum speed of 150 mph. But their plans failed, as Amtrak still had a large sum of debt from years of underfunding. To this day, trains still have a low profit margin and rely heavily on subsidies to operate.

According to the company’s 2017 fiscal year report, Amtrak had a total revenue of .3 billion. Unfortunately, this wasn’t enough to make Amtrak profitable. It still had a total operating loss of 4 million. Many of the lines don’t make any money or are operated at a loss. To accommodate the money-losing routes, Amtrak uses profits from its popular lines, such as the Northeast Corridor. Since this is one of the most popular routes, Amtrak can charge higher prices and send those profits to other, less profitable lines.

Additionally, the USA is a very big country. It’s the fourth-largest country, with about 3.8 million square miles of land. In comparison to Japan, which is smaller than the state of California, the US requires a lot more rail to cover its land. Amtrak trains run on 21,400 miles of track, and only owns about 630 miles of it.

For example, between New Rochelle and New Haven on the Boston-New York route, the tracks are owned and operated by Metro-North Railroad. This means Amtrak needs to pay Metro-North Railroad to run their trains over these tracks, which adds extra costs to passengers’ tickets.

According to Amtrak’s company profile, it operated approximately 300 trains a day in 2017. In comparison, SNCF, the French National Railway Company, operated 14,000 trains daily. That’s 47 times more trains, serving a nation that has one-quarter of the population of the United States. France is also even smaller than the size of Texas.

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Canada Goose jackets are made to withstand the coldest places on earth, and the company has a brand history to back it up. CEO Dani Reiss used that history when he turned the company into what it is today.

Following is a transcript of the video:

Narrator: This jacket has been banned from a UK high school. Why? An effort to poverty-proof the school environment. Shielding low-income students from feeling bad about not having a pricey coat. Canada Goose jackets cost anywhere from 0 to ,500, and they’re not just popular in English high schools. They’re everywhere. How did these coats get so popular? And why are they so expensive?

Pamela Danziger: Canada Goose started out as a working-class brand, and it was really focused on the working-class laborers up in Canada.

Narrator: Canada Goose was founded in 1957 by Sam Tick in a warehouse in Toronto, and it was originally called Metro Sportswear. By the ’80s, people were sporting the company’s jackets in the coldest places on Earth. Its expedition parka became standard-issue at Antarctica’s McMurdo Station, where the scientists nicknamed it “Big Red.” And in 1982, one of the company’s jackets made it to the top of Mt. Everest on the back of Laurie Skreslet, the first Canadian to summit the mountain.

Susan Fournier: So we’re always trying to find the authentic in a saturated world that’s kinda contaminated by materialism. You get those credentials through the craftsmanship. You also get it through a history of the brand, where it’s born of experiences that were actually real that then became products.

Narrator: So what do Canada Goose jackets have that others don’t? The company uses high-quality Canadian Hutterite down, recognized as one of the highest quality in the world. The company claims its animal fur trim disrupts air flow and protects exposed skin against frostbite. In fact, Canada Goose says its jackets can withstand temperatures as low as -30° Celsius. And that sort of quality doesn’t come cheap. Western coyote fur, similar to what Canada Goose uses, is estimated to cost 4.

Danziger: People need that kind of performance, that kind of functional quality in their day-to-day lives, and it’s unusual to see such a brand transform into a luxury brand, but Canada Goose has been very successful at making that transition.

Narrator: By the turn of the millennia, the company got a new CEO who would revolutionize the name “Canada Goose” into the luxury brand we know today. In 2001, Sam Tick’s grandson, Dani Reiss, was named as the company’s president and CEO. He started expanding the brand in Stockholm. His commitment to quality limited supply, but that only increased demand. The brand spread throughout Europe, mainly on word of mouth. Then Reiss targeted America. His parkas became the unofficial uniform for cold-weather film crews, and in 2004, the coats made it in front of the camera. Reiss continued to market through the silver screen, sponsoring film festivals in cold places like the Berlin Film Festival and Sundance. And its US exposure hit a new high in 2013 when Kate Upton donned a Canada Goose parka on the cover of Sports Illustrated.

Fournier: Cultural marketing is that the products are part of the culture, and the advertising is actually the products just living lives with the people who use it.

Danziger: Through that association, they really raised their stature, and again that’s an interesting, authentic way that Canada Goose made its entrance into the luxury market.

Narrator: There has been some backlash though. PETA has protested against the company’s production methods and pushed the company to use a cruelty-free alternative. Despite the protests, the company is on the upswing. At the end of 2013, Reiss sold a majority stake in the company to Bain Capital, which allowed the company to expand manufacturing in Toronto and Winnipeg and eventually open a store in New York City. Its expansion continued for four years, and in 2017, the company went public. On its first day of trading, the company’s stock jumped 25%, and it’s continued to rise through most of 2018. The company’s revenue has increased from CAN1 million in 2015 to CAN1 million in 2018, a 77% increase.

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